REGISTERED NUMBER: 06083400 (England and Wales)

AG LAMINATE FLOORING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

A G Weal

Mrs G M Weal

SECRETARY:

A G Weal

REGISTERED OFFICE:

14 Churchill Way

Kettering

Northamptonshire

NN15 5BZ

REGISTERED NUMBER:

06083400 (England and Wales)

ACCOUNTANTS:

Haines Watts (SEM) Limited

26-28 Headlands

Kettering

Northamptonshire

NN15 7HP

FIXED ASSETS

Tangible assets

4

1,236

1,648

CURRENT ASSETS

Debtors

5

557

675

Cash at bank

2,261

4,623

2,818

5,298

CREDITORS

Amounts falling due within one year

6

3,797

4,931

NET CURRENT (LIABILITIES)/ASSETS

(979

)

367

TOTAL ASSETS LESS CURRENT LIABILITIES

257

2,015

PROVISIONS FOR LIABILITIES

247

330

NET ASSETS

10

1,685

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

1,683

SHAREHOLDERS' FUNDS

10

1,685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 July 2017 and were signed on its behalf by:

A G Weal - Director

1.	STATUTORY INFORMATION

AG Laminate Flooring Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2016

and 31 March 2017

5,447

407

5,500

11,354

DEPRECIATION

At 1 April 2016

4,690

235

4,781

9,706

Charge for year

189

43

180

412

At 31 March 2017

4,879

278

4,961

10,118

NET BOOK VALUE

At 31 March 2017

568

129

539

1,236

At 31 March 2016

757

172

719

1,648

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Prepayments

557

675

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

847

1,426

Tax

429

776

Social security and other taxes

377

204

VAT

-

182

Directors' current accounts

1,172

1,643

Accrued expenses

972

700

3,797

4,931

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

1

2

2

8.	RELATED PARTY DISCLOSURES

At the balance sheet date included in creditors is a loan of £1,172 (2016: £1,643) to the company from the

directors. This loan is interest free, unsecured and repayable on demand.

The company was under the control of the directors Mr A G Weal and Mrs G M Weal throughout the current

year.

During the year Dividends were paid of £3,060 (2016 - £1,136) to Mr A G Weal

9.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the period ended 31 March 2017.

The effect of the transition from the previous financial reporting framework to FRS 102 has been considered.

There has been no material impact in relation to the following:

- changes in accounting policies

- changes in shareholders funds

- comparative year profit or loss

On that basis, no restatement has been undertaken.